The enforcement chief of Hong Kong’s securities regulator said some sponsors of initial public offerings in the city have been “extremely reckless,” signaling more penalties to come after the regulator slapped a ban on UBS’s local unit this month.

Hong Kong’s securities regulator has blocked UBS from sponsoring initial public offerings for 18 months, the Swiss bank said in its annual report released on Friday, adding it planned to appeal against the decision.

BlackRock, George Soros and big sovereign wealth funds are among investors expressing interest in buying stakes in the initial public offering of Deutsche Bank’s asset management arm, a person familiar with the matter said on Tuesday.

The enforcement chief of Hong Kong’s securities regulator said some sponsors of initial public offerings in the city have been “extremely reckless,” signaling more penalties to come after the regulator slapped a ban on UBS’s local unit this month.